Recent news is the Nokia Q2 profit warning, press release May 31 Nokia lowers Devices & Services second quarter 2011 outlook and updates full year 2011 outlook.
From the press release:
Espoo, Finland – Nokia today commented on factors impacting its business and updated its second quarter and full year 2011 outlook for Devices & Services. During the second quarter 2011, multiple factors are negatively impacting Nokia’s Devices & Services business to a greater extent than previously expected. These factors include:
- the competitive dynamics and market trends across multiple price categories, particularly in China and Europe;
- a product mix shift towards devices with lower average selling prices and lower gross margins; and
- pricing tactics by Nokia and certain competitors.
The stock has dropped 19% in the last 5 days, 44% from February 11, 70% in the last 5 years.
And now some very good articles and comments on the topic. Get your opinion.
- Comments from analysts Instant view: Nokia warns on Q2, drops FY targets
- Elop at D9, June 1 Nokia CEO Stephen Elop: It’s Not a Battle of Devices, It’s a War of Ecosystems (Video) (he is a very good speaker)
- Good article at TheRegister Nokia: When pigeons fly home to roast (Don’t blame Elop or Microsoft for Nokia’s catastrophic fall from grace)
- The cover story of BusinessWeek/Bloomberg Stephen Elop’s Nokia Adventure
- Horace Dediu at asymco.com Does the phone market forgive failure?
From @selop “Enjoyed discussion at #D9 with Walt. Quoted Sun Tzu: “We believe in ourselves”, and in our ability to execute well against our strategy.”